MannKind Corporation (NASDAQ:MNKD)
MannKind Corporation (NASDAQ:MNKD) will be announcing their Q2 2017 financial report after the market closes today. However this morning, prior to the market open, Mannkind and One Drop announced that they have taken the initial step in their collaboration. The collaboration takes the form of a randomized controlled trial named A-ONE. A-ONE will investigate the use of Afrezza® inhaled insulin and One Drop’s integrated digital diabetes care platform. Shares in the pre-market are down 2.5% at $1.19 on light volume. Mannkind stock price chart:
MannKind Corporation (NASDAQ:MNKD) and One Drop announced a memorandum of understanding in May of 2017. The collaboration is intended to study One Drop’s Mobile app, One Drop Premium and Afrezza®, MannKind’s inhaled rapid-acting mealtime insulin. One Drop Premium is a bundling of One Drop’s Mobile app, Chrome meter and test strips, and Experts coaching service. One goal of the collaboration is to identify ways of simplifying the complexity of starting and staying on mealtime insulin along with Customized Coaching to help people afflicted with type 2 Diabetes achieve their A1C goals.
People with type 2 diabetes, who meet the inclusion criteria, will be randomly assigned one of two treatments – Afrezza® with One Drop Premium or, One Drop Premium alone. Changes in hemoglobin A1C, quality of life, self-care, treatment satisfaction, and other metrics will be assessed.
In its prior quarterly financial report, MannKind Corporation (NASDAQ:MNKD) reported a loss of $16 on $3 million in revenue. Losses, adjusted for non-recurring gains, came to (-$0.22) per share. However the market responded positively and shares gained almost 43% to end the day at $1.60. On Friday shares of MannKind Corporation (NASDAQ:MNKD) closed at $1.22.
After four consecutive years of losses, MannKind Corporation (NASDAQ:MNKD) posted a per share profit of $1.37 for 2016 on sales of $174.8 million. But, so far, investors have shunned the company’s shares and MNKD is down over 61% YTD, and down over 75% for the year. However, for the quarter, MNKD shares are up over 53%.
No doubt that traders will be paying close attention to this afternoon’s financial release as they try to determine if the company’s break-through diabetes treatment can bring performance to the bottom line.
MannKind Corporation (NASDAQ:MNKD) will release its Q2 2017 financial results on Monday, August 7, 2017 at 5:00 PM EST on August 7, 2017. To participate in the live call by telephone, dial (888) 771-4371 or (847) 585-4405 and enter the passcode: 44096373.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.